What is Wanchain (WAN)?
What is Wanchain (WAN)? The purpose of Wanchain is to build a distributed bank. But this bank model is a bit different from the traditional banking we know. Here is the betting banking based on the digital economy of banking.
Wanchain is looking for solutions to the problems we have listed below
Ordinary investors can buy only low-cost financing products from financial institutions and banks
Ordinary investors can not invest at the beginning of the product at the moment of birth. Ordinary investor can make an investment once the idea is developed and listed on the big stock exchanges, after getting the base price
SMEs have difficulty getting loans from banks
The WAN is actually an Ethereum forku, which focuses on these issues. In addition to Ethereum, the ability to add to itself is the "Chain Transfer".
What is Wanchain?What is Wanchain?
With this feature, Wanchain can be connected to mainstream public blockchains such as Bitcoin and Ethereum, as well as to special blockchain systems. In this way, it will be possible to transfer several assets from the original chains Wanchain, Wanchain to the original chains and Wanchain.
Wanchain will be a kind of passport, which is the international validity of the digital world.
Transaction Confidentiality Security
This feature of Wanchain will allow commercial parties to conduct transactions privately in order to ensure that digital asset owners are protected anonymously if they wish. So confidentiality is essential.
Other Features
Apart from the two main features mentioned above, many crypto are aiming to carry out deposit and credit business for money. In addition, the platform is aimed at making transactions using digital cryptography while transferring digital assets. It will be possible to buy and sell brand new digital assets (even those at the ICO stage).
incentives
Unlike Ethereum, which works with the built-in Proof-of-Work (PoW) mechanism, it works with the WAN Proof-of-Stake (PoS) mechanism and therefore does not contain a miner.
What is the Getty of having a WAN token?
Both blockchainers will spend a certain amount of WAN on transactions that will be done on the same blockchain . Approvers on the system will receive a portion of these discontinuities as rewards (PoS systems will be approvers rather than diggers / miners). WAN tokens will also be used in the nodes during blockchain cross-validation .
Recent developments
Wanchain 2.0
50 developers are already testing Wanchain 2.0 Alpha Testnet. Beta Testnet will be released soon. Once released, all participants will be allowed to test and a bounty hunting program will probably be activated by the Wanchain Foundation.
Partnership with Quantstamp
A few weeks ago, Wanchain announced that they were partnering with Quantstamp on auditing and security consulting.
In addition, Quantstamp will assist WANLab in developing the Wanchain ecosystem. Developed by WANLab Wanchain, a kind of blockchain accelerator that looks after incubator.
Pundi X Partnership
Wanchain announced the Pundi X partnership during the Consensus 2018 event. They do not give details about the content of the partnership, but it is obvious that there will be a positive development for both sides. In the end, we are talking about two projects that aim to produce solutions to similar problems. Pundi X aims to spend money in physical stores with crypto money, that is, to erase the thick lines between the physical world and the crypto universe in our circle.
As a result, Wanchain aims to create a financial market for the digital economy. In doing so, he plans to take Ethereum and develop some codes and add some brand new features to it.
There are many developing projects based on the establishment of your blockchainer activities and privacy. Let's see which one will reach its goal.